Reference no: EM132489530

Point 1: Below is the complete list of accounts of Cobras Incorporated and the related balance at the end of March. All accounts have their normal debit or credit balance. Supplies, $1,000; Buildings, $52,000; Salaries Payable, $500; Common Stock, $32,000; Accounts Payable, $2,050; Utilities Expense, $3,400; Prepaid Insurance, $1,200; Service Revenue, $19,200; Accounts Receivable, $3,900; Cash, $3,200; Salaries Expense, $6,100; Retained Earnings, $17,050.

Required:

Question 1: Prepare trial balance with the list of accounts in the following order: assets, liabilities, stockholders' equity, revenues, and expenses.